VP & Chief Risk Officer Multifamily
Company: Fin'l Services General, Washington, DC
Posted on: March 18, 2019
The Multifamily Chief Risk Officer (MF CRO) leads the organization that is responsible for comprehensive oversight of the Multifamily Mortgage Business. Key responsibilities include developing corporate parameters for Multifamily credit risk and establishing associated risk limits and thresholds, providing independent oversight of the MF book and acquisitions, and evaluating the effectiveness of risk management across the business. The MF CRO reports to the SVP and Enterprise Chief Risk Officer.
Key Job Functions & Duties Lead a team of Directors, Credit Risk Managers and Analysts located in the Washington DC and Dallas metropolitan areas. Develop the Multifamily acquisition risk appetite, Board Limits and Management Limits and ensure the Multifamily acquisition and book profile and performance are within established risk appetite, limits, triggers and risk policies. Chair the Multifamily Risk Committee. Establish key performance indicators necessary to monitor business. Monitor macro-economic environment and ensure that business responds appropriately to changes in environment. Identify Emerging Risks and Top Risks and ensure these risks are managed appropriately and monitored. Conduct Targeted Risk Reviews to ensure processes and controls are functioning as intended. Monitor loan and portfolio credit and pricing trends to ensure risk and returns are appropriately managed. Monitor credit risk transfer activities to ensure that credit risk transferred meets regulatory goals and results in appropriately managed risk. Oversee the DUS Program requirements expressed in the Selling and Servicing Guides and monitor deviations to the program. Review risk identification, monitoring, assessment and decision tools used across Multifamily to ensure prudent risk management practices exist. Review key model and methodology changes to Multifamily models to ensure adequacy of qualitative assumptions. Provide oversight of Multifamily allowance and stress testing assumptions. Engage with ERM stakeholders in functional areas to ensure holistic perspective of Multifamily risks. Qualifications
Basic Requirements Minimum Education/Certification: BA/BS required; Master’s degree preferred Ten years in a credit, risk management or related leadership role; must have strong knowledge of financial markets, commercial real estate lending and/or related fields Demonstrated ability to communicate in oral and written forms to senior management and influence management decisions Significant experience managing a staff of professionals in proven leadership roles Specialized Knowledge and Skills Detailed knowledge of multifamily mortgage business including origination, underwriting, and/or servicing with a large financial institution that manages credit risk for a portfolio of loans Strong risk management skills and understanding of enterprise risk management concepts preferred. Strong analytical and critical thinking skills as well as attention to detail required Experience with managing a team responsible for execution of projects is preferred Experience effectively partnering/collaborating with stakeholders and building trusting relationships Experience with providing strategic direction and vision for a group and demonstrated ability to influence broadly and communicate clearly, inclusive of executive presence Experience with managing key external mission-critical relationships Must have a deep background of demonstrated accomplishments in managing, designing, and improving processes and systems in a complex and competitive financial services operational environment Experience developing risk exposure and risk management strategies to support the company's business goals is preferred Effective communication skills with internal and external stakeholders, direct reports and staff and Ability to communicate complex issues at a high level Experience with managing human capital effectively including goal setting, performance management, top talent management, rewards and recognition, and succession management Expertise in change management Ability to communicate the vision and direction of the business function effectively, ensuring the development and alignment of business priorities to senior leadership, staff members and across departments and enterprise Ability to identify and propose thoughtful solutions that address issues while minimizing the potential impact on lenders, customers, and clients Competencies Customer focus: Building strong customer relationships and delivering customer-centric solutions Decision Quality: Making good and timely decisions that keep the organization moving forward Cultivates Innovation: Creating new and better ways for the organization to be successful Strategic mindset: Seeing ahead to future possibilities and translating them into breakthrough strategies Collaborates: Building partnerships and working collaboratively with others to meet shared objectives Builds effective teams: Building strong-identity teams that apply their diverse skills and perspectives to achieve common goals Communicates effectively: Developing and delivering multi-mode communications that convey a clear understanding of the unique needs of different audiences Drives engagement: Creating a climate where people are motivated to do their best to help the organization achieve its objective Drives vision and purpose: Painting a compelling picture of the vision and strategy that motivates others to action Ensures accountability: Holding self and others accountable to meet commitment Drives results: Consistently achieving results, even under tough circumstances
Keywords: Fin'l Services General, Washington, DC, Washington DC , VP & Chief Risk Officer Multifamily, Executive , Washington, DC
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